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Europe not obliged to follow US on FX exemption, warns senior MEP

Markus Ferber, European Parliament

Kathy Alys

21 November 2012

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The European Union is not obliged to follow the lead of US regulators in exempting foreign exchange swaps and forwards from forthcoming regulatory requirements for over-the-counter derivatives, an influential member of the European Parliament (MEP) has warned.
The warning comes days after the US Department of the Treasury finally confirmed it would exempt FX swaps and forwards from both the clearing...